Briefly

PBOC conducts central bank bills swap

The People's Bank of China, the country's central bank, conducted a central bank bills swap operation on Wednesday to improve the liquidity of perpetual bonds. The three-month swap, valued at 5 billion yuan ($696.52 million), is open to primary dealers for bidding at a fixed rate of 0.1 percent, the PBOC said in a statement. The move allows dealers to swap perpetual bonds they hold for central bank bills. Perpetual bonds are fixed-income securities with no maturity date and are not redeemable but pay a steady stream of interest in perpetuity.

Jiangsu Jan-Sept GDP up 5.8 percent

The GDP of East China's Jiangsu province grew 5.8 percent year-on-year in the first three quarters, exceeding 9.3 trillion yuan ($1.3 trillion), said the provincial statistics bureau. The added value of Jiangsu's primary, secondary and tertiary industries during the period stood at about 276 billion yuan, 4.1 trillion yuan and 4.9 trillion yuan, respectively, up 3.3 percent, 6.6 percent and 5.3 percent. Jiangsu's fixed-asset investment rose 5.7 percent in the January-September period, while manufacturing investment saw rapid growth of 10.7 percent over the nine months.

Xinhua - China Daily